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The Canadian Government has introduced various international trade programs, many of which make it easier for corporations to enter into trade with Canada. AG Tax professionals have prepared an overview on the three most trade-supportive programs provided in Canada, which may be useful for anyone who currently performs, or plans to carry out, international trade....
With the establishment of the first BitCoin ATM in Vancouver, it is apparent that BitCoin has entered the mainstream. Taxpayers may wonder, “What is BitCoin? Where can BitCoin be used? Is it taxable or tax-exempt?”. Our team of Canadian tax professionals at AG Tax have created a brief explanation of BitCoins, including what BitCoins can...
The North American Free Trade Agreement (NAFTA) between Canada, the U.S. and Mexico has led to a significant increase in trade between the three countries. Among other things, NAFTA allows goods and services to be imported and exported between the three countries at a low duty rate. Additionally, certain products can even be imported and exported...
The Canadian Goods and Services Tax/Harmonized Sales Tax (GST/HST) lacks clarity in some regions and is often subject to changes. In order to bring in some consistency, the federal budget released in early 2013, contained certain prominent measures related to the GST/HST taxation. The corporate tax professionals at AG Tax have prepared a brief summary of...
An alternative practice of fundraising, called “crowdfunding”, is becoming more common as conventional forms of fundraising are becoming less feasible in today’s tough economy. Crowdfunding is a way of raising funds for a project, usually via the internet. Various types of fundraising campaigns (disaster relief, political campaigns, scientific research, and start-up costs for new companies)...
On October 29, 2013, the Canadian government formally ratified a tax treaty with the Government of Hong Kong Special Administrative Region of the People’s Republic of China (Hong Kong). This treaty, (originally signed on November 11, 2012) minimizes the possibility of tax discrimination and double taxation, and further encourages healthy trades between Canada and Hong...
We are aware that fraudulent emails are being received that appear to come from info@agtax.ca and require the recipient to enter personal details in order to get a refund from the CRA. These emails are phishing scams, using the contact details of many accounting firms, and should be ignored and deleted. The Canadian Anti-Fraud Centre...
Continuing on from our previous article on year-end tax concerns and planning options for individuals, the tax professionals at AG Tax have prepared a brief report summarizing the various issues that business owners should consider when planning their tax-saving strategies. The two main issues are the timing of business income and deductions, and applying the...
It can be difficult to tell whether an activity is a business or hobby based on a tax return. Some taxpayers claim expenses to offset income earned, even if they are only operating the business as a hobby. Because of this, the IRS has developed a rule of thumb for analyzing business losses. This is...
Small business owners (SBOs) in Canada have the option to pay themselves from their business through either salary or dividends. It can be difficult to determine whether to be compensated by wages or dividends, as there are pros and cons to each. AG Tax has prepared a brief summary on these two payment methods, which...
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ABOUTAylett Grant Tax, LLP
With offices across Canada, we are positioned to manage and process the full scope of your Canadian, US and US Canada cross-border tax filing needs.OFFICEVancouver
+1 (888) 502-1810New South Surrey office coming January 2025ABOUTAG Tax LLP
With offices across Canada, we are positioned to manage and process the full scope of your Canadian, US and US Canada cross-border tax filing needs.OFFICEVancouver
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